Wall Street analysts see Robinhood benefiting from deregulation and crypto expansion, with bullish calls from Morgan Stanley and Bernstein.

Robinhood Markets (NASDAQ:HOOD) shares gained 3.8% in Friday morning trading after Morgan Stanley Research moved the Overweight-rated retail trading app to top pick, owing to "many vectors for growth that’s not yet reflected in valuation and the shareholder base.

Morgan Stanley (NYSE:MS) analysts issued an update on iQIYI shares (NASDAQ:IQ), reducing the price target from $2.40 to $2.20, while maintaining an Equalweight rating on the stock. The adjustment follows their projection of a revenue decline and potential challenges in the company's subscription growth.